On 5 May 2017, the long awaited Legislative Decree 19 April 2017 n. 56 was finally published in the Official Journal of the Italian Republic (S.O. n. 103).
The 19 April Decree is aimed at amending a substantial number of provisions contained in the Legislative Decree of 18 April 2016 n. 50 (the Code of Public Contracts) which enacted European Directives 2014/23/UE, 2014/24/UE and 2014/25/UE, and is intended to simplify the public contracts legislative framework.
The original version of the Code was widely criticised by commentators and stakeholders, with a first revision made in summer 2016 deemed incomplete and unfit for purpose. After a year of further review and discussion, the Italian Government has now passed a more articulate statutory instrument aimed at overcoming the original criticism and embracing the constructive comments that were raised.
Some of the amendments are particularly interesting for developers, infrastructure funds and financiers given that they (to a certain extent) positively affect the legislative framework of concessions, PPP contracts and project financing unsolicited proposal procedures. The main revisions can be summarised as follows.
The Decree will come into force on May 20, 2017, 15 days after its publication.
The full text can be accessed here.